China warns Japan that ‘new militarism’, ‘Takaichinomics’ risk instability
Communist Party newspaper cautions against tying economic growth to ‘militaristic adventurism’, saying Japan’s citizens would shoulder the costs
“The Takaichi administration’s obsession with militaristic adventurism is by no means a cure for the Japanese economy, but a poison that will accelerate its decay,” it said.
The piece took aim at “Takaichinomics” – a neologism for the Japanese prime minister’s economic programme – often described as a mix of aggressive public spending and higher investment in defence and economic security. It said Tokyo was attempting to mask governance failures with arms spending and aggressive fiscal expansion, a strategy that some critics warn could exacerbate the country’s massive public debt.
The commentary said Japan was “under the dual squeeze” of an “oil premium” and a struggling yen, warning that the impact was rapidly spreading from the energy sector to people’s daily lives.